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Tom Au, CFA
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In the early 1990s, during the middle of a secular bull market, I began work on "A Modern Approach To Graham and Dodd Investing," that was not particularly suited for the decade of the 1990s, but was ideally suited for the following "Lost Decade" of the 2000s.
My book:
A Modern Approach to Graham and Dodd Investing
  • Christmas Season Peaked Early for Retailers 0 comments
    Jan 7, 2011 9:59 AM
    Yes, the Christmas season DID get off to an early, and good start for retailers. But it limped to a sluggish finish. This realization is causing a (downward) readjustment in the price of retailing stocks.

    This sluggishness appears to have set in BEFORE the post-Christmas snowstorm on the East Coast. More to the point, the wave of early New Year sales appear to have fizzled out earlier than usual (at least in the NY City area, judging by unusually light commuter traffic).

    It was something I foreshadowed in a November retailing piece:

    This was confirmed by a Gallup poll employment survey, that uncovered the fact that "post" holiday layoffs by retailers started earlier than usual, in December, rather than January.
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